[borjo]

Originally Posted by dshinnick

Hey all-

We're looking at TV not only as a place to live, but also as a source of retirement income.

If I sell my other real estate, which is in California and not easily managed from Florida, I'll have roughly $1M to invest.

We were considering buying, say, four $250k homes and leasing them on annual leases only, and living on the income. If they would each produce $1,500/month net, that would provide enough income for us. And, doing a 1031 exchange, real estate into real estate, would allow me to defer taxes.

We're just not sure what the demand is for annual-lease property in TV. Any thoughts on this? Any alternate suggestions?

Thanks-

Dave

I think your estimate of $1500 is very high. That is what many pay /month on a yearly basis anyway and that's gross. We had a rental, a rancher, for 8 years and did not gross but about $6000/year. It was rented about 7-8 months in high season. I agree with the posters to purchase less expensive homes, ranchers or cottages which will rent easier.

[AriaGrandparents2013]

I closed on a Designer Home in April of this year and I believe there was a restriction in the deed or sales agreement to the number of home one is able to purchase within The Villages.........this is from memory but was wondering if anyone else remembers this restriction?

[justjim]

I think you could be thinking about the year restriction before selling a new home. You can sell but if there is any profit it goes to the Developer. That clause was in our sales contract but I don't recall anything about how many new houses you could buy and for sure there is no restriction on how many resales you can own in TV.